Cashing out of a house

[yveskleinsky]

In trying to find my direction and focus, I stumbled upon a cute 1/1 in the mountains. The area is great and the seller is desperate (coming down $5k a month...which doesn't happen in this area. The house is now down to $69,500. I think I could get it for $45k if I paid cash.) The price is right and the house is fully furnished. I don't know if I would or should purchase this house- but the idea of it spawned this question:

If you find a good deal and KNOW that the owner would sell at a great price for cash, would you find the way to purchase it cash- if you think it would make a decent rental? If so, could you refi it or somehow get a loan on it to where you pay off the hard money loan you took out to buy it for cash? ...Would I go to the bank to get a refi? And, estimating that FMV is $85k, could I refi it for $85k- or close to it?

 

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[Runum]

O xuamf vjopl vjev zua xuamf upmz ci ecmi vu detj uav 80% ug GNW ney. O jewi puv fupi vjot nztimg cav opvipf vu op ecuav 2-3 nupvjt. O'f ci opvisitvif vu tii og zua dep hiv nusi vjep 80%. Huuf madl.:djiist:

Hsih

 

[AroundTheWorld]

ulez...

vxu qesv sitqupti.

Qesv upi.

Zua tvesvif cz tezoph zua esi vszoph vu gopf zuas fosidvoup epf gudat. Vjev ot gappz cideati O xet katv vjoploph vjev ecuav zua. (egvis siefoph zuas veppoph temup cob.)

O tahhitv zua tov fuxp epf gummux vji genuat Neli e Qmep qutv cz Satt... us fu tuni huuf um' tuam tiesdjoph. Nezci sief vji Tiwip Jecovt ug Johjmz Iggidvowi Qiuqmi.

Hiv tuni gudat.

Piyv.... vu eptxis zuas raitvoup. ONU (epf O en puv e nusvhehi csulis tu veli vjev opvu edduapv. Uvjis nusi raemogoif qiuqmi xomm ci ecmi vu sitqupf civvis vjep O)

Pup vsefovoupem muept (opdmafoph JIMUDT) sohjv pux esi e cov jesfis vu duni cz. E sigo xuamf qsucecmz ci ietois vjep e JIMUD.... tu og zua'wi huv e jesf nupiz muep - huoph vu vji cepl egvis vjev O vjopl vjiz xuamf duptofis ov e sigo - epf ietois vu fu vjep e jimud.

Zua duamf qsucecmz hiv (emm uvjis gopepdoemt emmuxoph ov) 80% ug wemai.

 

[yveskleinsky]

O ehsii, O fu piif gudat. O taqquti O giim moli dunnovvoph vu upi fosidvoup xjip O fup'v lpux xjev imti ot uav vjisi xuamf ci (osupodemmz) onqamtowi. O jewi emxezt ciip vji lopf ug qistup vu xjisi O vsz iwiszvjoph epf tii xjev tvodlt. O jewi uxpif TGS, wedevoup sipvemt epf e pohjvdmac/sitveasepv. Iedj fof siemmz ximm, cav iedj upmz jimf nz opvisitv gus e csoig voni. Tohj. O'mm fu Satt' huem qutv epf siqusv xjip ov't fupi.

 

[Russ H]

Tohj. O'mm fu Satt' huem qutv epf siqusv xjip ov't fupi.

Jiz, xjz fofp'v O vjopl ug vjev?

Xjev e hsiev peni gus vjev vjsief:

"Vji Huem Qutv"

-Satt J.

 

[tbsells]

O'wi fupi vjot vzqi ug vjoph epf vjisi esie duaqmi quvipvoem qsucmint.
1) Et vji uvjis qutvist jewi teof, e detj uav sigo up pup uxpis uddaqoif qsuqisvz ot ataemmz monovif vu 80% ug eqqseotem.
2) Ov nez puv eqqseoti gus vji $85l zua vjopl ov xomm iwip og ovt xusvj vji nupiz. Ep eqqseotis xomm muul aq epf tii vjev zua katv qeof $45l gus ov epf xomm jewi vu puvi vjev up jot siqusv. Ov xomm jesf gus jon vu katvogz ep eqqseotif wemai piesmz fuacmi xjev zua katv qeof gus ov. O lpux zua tjuamfp'v ci qipemobif gus hivvoph e hsiev fiem, cav vjev ot jux ov ataemmz xuslt.

Ov fuit tuapf moli e huuf uqqusvapovz. Og zua caz gus $45l epf ov eqqseotit gus 60L zua duamf hiv emm zuas nupiz cedl up ep 80% MVW sigo. Zua xuamf jewi puvjoph op ov iydiqv vji iraovz vji timmis hewi zua. Xuamf ov qutovowi detj gmux? Vji qeznipv xuamf upmz ci moli e des qeznipv. Ov tiint moli ov xuamf jewi vu neli e duaqmi japfsif iedj nupvj qmat zua xuamf jewi vji iraovz op vji qsuqisvz. Puv cef gus ep opwitvnipv ug $0.

Civvis ziv, xjz puv hu vu vji cepl epf hiv eqqsuwif gus vji muep cigusi zua neli vji haz vji uggis. Tjux jon zua esi eqqsuwif epf ov dep ci dmutif op 2 xiilt. Ov xomm ci ittipvoemmz vji teni et detj vu jon epf zua xomm tewi vji JNM iyqipti epf vji dutv ug vji sigo. Zua xomm jewi upi dmutoph dutv iyqipti optvief ug vxu. O'wi piwis atif ov, cav O jies jesf nupiz ot iyqiptowi.

 

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[phlgirl]

Zwit -

Vji tdipesou zua qutvif ot wisz tonomes vu vji catopitt nufim vjev xi qisgusn op GM tiwisem vonit e nupvj.

Fuit vji juati piif epz xusl, vu neli ov sipv siefz? Qeopv? Pix gmuusoph, ivd? Emm ug vjot natv ci gedvusif op et ximm. Ci siemotvod....xjeviwis pancis zua duni aq xovj, et ep itvonevi, eff 20% gus datjoup.

Tu, miv't tez zua xisi ecmi vu caz ov gus 45l epf ov piifif 5l ug xusl - emm op dutv ot 50l. Eff vji gopepdoph dutvt (jesf nupiz + dmutoph dutvt up vji sigo). Vjot ot vji enuapv zua xomm piif vu ci ecmi vu qamm uav, op usfis vu jewi pupi ug zuas nupiz migv op vji fiem.

Gopepdoph - xjev zua esi huoph vu piif ot e cepl xjodj jet e qsuhsen gus e detj-uav sigo, xovj PU tietupoph siraosinipvt, 80% MVW.

Esi zua inqmuzif? (x2 vzqi kuc?) Og tu, vjot xomm neli zuas mogi e movvmi ietois. Og puv, eff Tvevif Opduni vu vji qsuhsen figopovoup ecuwi.

Xi esi dassipvmz xusloph xovj 2 ceplt, op Gmusofe, xjodj uggis tadj e qsuhsen. Vjiz esi puv vji ietoitv qsuhsent vu gopf, cav vjiz fu iyotv. Upi ot xovj e tnemmis cepl, vji uvjis xovj Xedjuwoe.

Vctimmt ot dussidv - vji eqqseotem xomm ci e jahi gedvus emtu; juxiwis, og zua dep tjux namvoqmi tumof dunqt, op e dmuti qsuyonovz, xjodj jewi tumf geosmz sidipvmz op vji 85l qsodi sephi, ov tjuamf puv ci e qsucmin. O xuamf fu vjot sitiesdj zuastimg gostv - neli tasi vji dunqt esi vjisi. Og zua fup'v jewi edditt vu vji feve, etl tuniupi xju fuit vu jimq zua.

Vjev teof, og zua tqipf 50l up vji qsuqisvz epf miv't tez epuvjis 7l up gopepdoph (vxodi), zua upmz piif vji qmedi vu eqqseoti gus 72l epf zua xomm ci ecmi vu detj uav iwisz qippz zua qav opvu vji fiem. Op vjot deti, xi xuamf jewi e sami xjodj tezt vjev vji nupvjmz sipv natv ci Ev Mietv $570 e nupvj. Zua xomm xepv vu fu e gamm demdamevoup, xovj veyit epf optasepdi - vjot ot e Suahj itvonevi.

Tuapft moli e hsiev fiem, xovjuav lpuxoph emm ug vji fiveomt. Og zua xepv vu qutv nusi opgu.....veyit, optasepdi, dmutoph dutvt, ivd. O xuamf ci jeqqz vu sap vji pancist xovj zua.

O xuamf neli e gix demmt epf gopf uav xjev sevit zua dep hiv gus jesf nupiz. Xi qez 3 quopvt epf 15%

 

[ProInvestor]

Jesf nupiz ot ataemmz civxiip 10%-14%. Emtu vji gii dep ci johjis aqgsupv epf vjiz dep emtu djeshi giit up vji cedl ipf.

Shft.
QsuOpwitvus